Tax exemption recognition under section 10(23C)(v) requires exclusive application of income, permitted investments, and separate business accounts. Notification grants tax-exempt recognition to Shri Saibaha Sansthan, Shirdi for specified assessment years subject to conditions: the institution must apply or accumulate income exclusively to its objects; restrict investments to permitted forms while allowing voluntary contributions retained in kind; exclude business income unless incidental and separately accounted; file returns regularly; and, on dissolution, transfer surplus and assets to a charitable organization with similar objectives.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Tax exemption recognition under section 10(23C)(v) requires exclusive application of income, permitted investments, and separate business accounts.
Notification grants tax-exempt recognition to Shri Saibaha Sansthan, Shirdi for specified assessment years subject to conditions: the institution must apply or accumulate income exclusively to its objects; restrict investments to permitted forms while allowing voluntary contributions retained in kind; exclude business income unless incidental and separately accounted; file returns regularly; and, on dissolution, transfer surplus and assets to a charitable organization with similar objectives.
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